Core Viewpoint - The strategic partnership between Giant Bio and Nordberg Medical aims to leverage Giant Bio's patented recombinant collagen technology for global market expansion in the medical aesthetics sector, indicating a shift towards international growth opportunities [2][5][10]. Financial Performance - In the first half of the year, Giant Bio reported revenue of 31.13 billion yuan, a year-on-year increase of 22.52%, and a net profit attributable to shareholders of 11.82 billion yuan, up 20.23% [7]. - Despite positive growth, the revenue and net profit growth rates have slowed compared to previous years, where growth rates exceeded 40% [7]. - The company's gross margin for the first half of the year was 81.68%, down from previous years' figures of 85.11%, 84.14%, and 82.4% [7]. Strategic Developments - The partnership with Nordberg Medical allows Giant Bio to utilize the latter's established global marketing and sales network, facilitating quicker entry into international markets [5][10]. - Giant Bio received a medical device registration certificate for its recombinant type I α1 collagen product, marking a significant step into the professional medical sector [10][12]. Market Position and Competition - The competitive landscape in the recombinant collagen market is intensifying, with companies like Huaxi Bio and Jinbo Bio also making significant advancements [10][11]. - Jinbo Bio has established a lead in the market with multiple approved medical device registrations, highlighting Giant Bio's relatively slower progress in this area [11][12]. Stock Performance and Market Sentiment - Giant Bio's stock has seen a significant decline, dropping approximately 60% from its peak of 85.14 HKD per share earlier in the year, now trading at 34.56 HKD [12]. - The company announced a share buyback plan to repurchase up to 10% of its issued shares, reflecting confidence in its long-term strategy and growth potential [12].